- Hidden Peak Electric Co
- 2026
- 7
- 3
- 42.86%
- $5,585,226
- 6.65%
- 11.25%
- 10.13%
- $29,526,296

Cash flow will likely begin to drop in 9 to 12 months as several mid-sized projects from 2022 and 2023 reach substantial completion and their remaining billings are exhausted. The long average durations on older work have supported steady draws but the reduced bidding volume in prior years means fewer replacements are in the pipeline.
Short-term (next 3-6 months) cash flow outlook
Cash flow should remain stable and positive over the next 3 to 6 months given the $37 million backlog and active projects such as the Jurassic US 40 and Levan Fiber Optics jobs that still have significant duration remaining. Monthly revenue generation from these contracts will continue without immediate interruption.
Medium-term (6-12 months) outlook
Revenue will start to moderate after six months as the 2024 and early 2025 low-bid projects wind down and the contractor relies more heavily on the smaller 2026 awards. Overall backlog burn will accelerate without additional wins to offset completions.
Potential major risk period
The period from late 2026 into early 2027 presents the highest risk of cash flow disruption if current bidding momentum does not produce at least two to three additional low bids in the $3 to $6 million range. Historical success rates below 30 percent indicate vulnerability during this transition.
Recommended actions for securing new work
Increase bid volume on Utah DOT and local agency fiber and lighting packages over the next 90 days while tightening markup strategies to improve the current 50 percent success rate. Focus on shorter-duration projects to rebuild backlog with quicker cash conversion.
How much new backlog is needed to maintain monthly cash flow
Approximately $8 to $10 million in new backlog is required within the next six months to sustain current monthly cash flow levels once existing contracts begin to close out. This equates to securing two to three average-sized wins based on recent low-bid totals.
Specific recommendations for backlog targets and timelines
Target a minimum backlog of $25 million by year-end 2026 through consistent bidding of four to five projects per quarter and aim to replace at least 60 percent of the expiring 2022-2023 work with new awards by the second quarter of 2027. Prioritize contracts with durations under 120 months to improve cash velocity.
- Zion Canyon Fiber Optics Phase 2 US 89 SR 20 F-R499(541)
- UDOT
- $11,189,019
- 5/28/26
- US 89 SR 186 Lighting Improvements F-R299(488)
- UDOT
- $690,758
- 4/23/26
- I 80 Fiber Upgrade Lambs to US-40 F-I80-3(225)136
- UDOT
- $538,631
- 4/7/26
- Jurassic US 40 Fiber Optics Segment D F-0040(251)125
- UDOT
- $4,395,726
- 3/26/26
- US 50 Fiber Optics F-0050(41)129
- UDOT
- $2,346,163
- 3/3/26
- Jurassic US 40 Fiber Optics Segment C F-0040(250)86
- UDOT
- $6,010,162
- 2/10/26
- Jurassic US 40 Fiber Optics Segment B F-0040(249)51
- UDOT
- $4,355,837
- 2/5/26
- US 89 SR 186 Lighting Improvements F-R299(488)
- UDOT
- $690,758
- 06/22/26
- 60
- 0%
- -
- $690,758
- Jurassic US 40 Fiber Optics Segment B F-0040(249)51
- UDOT
- $538,631
- 06/06/26
- 118
- 11.0%
- $136,940
- $479,290
- Jurassic US 40 Fiber Optics Segment B F-0040(249)51
- UDOT
- $4,355,837
- 04/06/26
- 200
- 37.0%
- $653,376
- $2,744,177
- Jurassic US 40 Fiber Optics Segment B F-0040(249)51
- UDOT
- $6,844,579
- 06/09/25
- 450
- 83.3%
- $456,305
- $1,140,763
- $1,246,621
- $5,054,988

